FMN, a leading diversified Pan-African Food and Agro-allied Group, has been Nigeria’s notable driver of food security since its inception on the 29^th of September 1960, just 48 hours before Nigeria’s Independence. Driven by the desire to Feed the Nation, the founder and renowned entrepreneur, the late Mr. George S. Coumantaros incorporated the Company under the name -Flour Mills of Nigeria Ltd (FMNL). Sixty-Six years later, FMN has metamorphosed into a leading Pan-African Food and Agro-allied Group that produce loved brands for consumers/customers across the continent. The FMN journey is that of excelling commitment to providing affordable healthy and superior quality nutrition for consumers thus the Iconic Brand name for the Company’s food Brand ‘Golden Penny Foods’.

At the heart of FMN’s growth remains Nigeria and Nigerians, like a Siamese twin, Nigeria and FMN remain united in their commitment to entrenching food security in the Nation. As a pioneer wheat miller in Nigeria, the Brand has evolved into what is now one of the biggest brands in the food and agro-allied industry in Africa. FMN has made strategic investments that drive development across its key value chains of Grains, Sugar, Cassava starch, Feeds & Protein, Edible oil, and fats. With over 17 modern facilities across the Nation, and diverse Value chain developmental engagements, FMN has been a source of livelihood for millions of Nigerian families.

Since its inception, FMN is driven by the commitment to establish product and process innovation, and content localisation remains the Brand’s key strategic pathway to propagating sustainable food systems in Nigeria. The Brand’s continued quest for innovation is driven by its over six decades of commitment to Feeding and Enriching the Lives, Every Day. Strategic imperatives, tactical executions, product lines and agro-investment structures evolved in line with the needs of the people and the socio-economic environment of the Nation. Thus, FMN established, as a lasting commitment to entrenching food security in the Nation, a now Globally Acclaimed Initiative called ‘The FMN Prize for Innovation’ (FMN PFI).

The FMN PFI is a transformative and novel project designed to foundationally support innovative businesses within the Food and Agro-allied Sector in Nigeria with the sole intent of building sustainable food system in Nigeria. The Brand’s commitment to the FMN Prize for Innovation (PFI) is strategic and deliberately geared towards revolutionising and attaining food sustainability in Nigeria, and eventually across Africa. The Group, through this tech-table initiative, launched the FMN PFI to seek out, identify, and support innovators who are reinventing food production and processing in Nigeria. Since its inception in 2021, FMN has financially, technically, and strategically supported Eleven Innovators and Businesses, investing over N300,000,000 (Three Hundred Million Naira)

The maiden edition of the FMN Prize for Innovation, launched in December 2021, centered on the theme “Enabling Sustainable Food Systems.” With a focus on curbing losses and waste in the food production process, this competition sought to unearth pioneering solutions that could streamline our agricultural value chains. The winning entries were awarded a grand prize of ₦3 million and N1 million for the winner and first runner-up up respectively. Their entries specifically addressed the thematic focus of the season and met all the Judges’ criteria for winning.

The businesses that won the first season of the FMN Prize for Innovation (PFI) are Urban Akwu Agro-allied Limited founded and owned by Chuks Ogbonna & Emezulem Amadi and Eupepsia Place Limited, founded and owned by Samson Ogbole who is into Soilless farming called hydroponics.

Building on this success, the second season of the FMN Prize for Innovation was anchored on the theme “Innovative Techniques for Local Content Development in the Food and Agro-Allied Sector.” Recognising the importance of reducing our reliance on imported raw materials, this edition challenged participants to conceptualize unique solutions that could bolster local capacities and empower communities. The aim was to catalyse a paradigm shift towards sustainable food production, fueled by homegrown innovations. The winning entries secured a ₦5 million prize, ₦3 million, and ₦2 million for the grand winner, first and second runners-up, respectively. Their invention showcased the depth of talent and creativity within Nigeria’s entrepreneurial ecosystem.

Osomobegbe Global Ventures Limited, by Eugene Olumese Osomobegbe, a Design and fabrication of highly efficient solar dryers clinched the first position for the second season of the PFI and won the Prize money of ₦5 million. Palmark Syndicate Ltd, producers of tomato powder from tomato fruit by Musa Pashi Ali, won the second-place prize of ₦3 million. And Indigo Farms and BioResourcest, producers of Cassava residue Pellets for Animal Feeds by Damilare Jacob Ogundipe secured third place by winning ₦2 million.

Entries across these first two seasons spanned a wide array of groundbreaking concepts, from solar-powered storage systems and hydroponic farming solutions to bio-recycling plants and novel methods of generating electricity from food waste. These diverse inventions underscored the boundless potential for innovation to reshape Nigeria’s agricultural narrative.

The third edition of the FMN Prize for Innovation maintained the Group’s steadfast commitment to entrenching sustainable food systems in Nigeria that guarantee the drive for food self-sufficiency. Under the theme “Driving Food Self-Sufficiency in Nigeria Through Precision Agriculture,” the Group once again attracted novel and useful innovations in the agricultural sector in Nigeria and practically provided the winners with an enabling environment to thrive. After an intense and highly competitive pitch session, the Group through the Judges awarded D-Olivette, a waste to bio-gas conversion company by Tunde Adeyemi the prize money of ₦5 million. Green Eden Farms Ltd, a precision agriculture greenhouse farming company by Stephanie Meltus prize money of ₦3 million, and the second runner up Farmspace Action Lab, a soil testing company by Tijjani Ali Lawal received prize money of ₦2 million .

The fourth season of the FMN Prize for Innovation (PFI) has once again spotlighted some of Nigeria’s most promising agropreneurs, showcasing groundbreaking solutions that have the potential to transform the agricultural sector. Themed “Innovative Practices in Livestock Farming in Nigeria”, the fourth season of the FMN PFI garnered an applaudable number of entries from innovators within Nigeria’s Livestock Farming industry. The season had about 2000 entries, each vying for the ultimate Prize money of ₦5,000,000, ₦3,000,000 & ₦2,000,000 and other support that the Group offers to winners.

Leading the pack with their expertise in sustainable agriculture, Levitate Aquaria & Breeder Farms clinched the top position and won a ₦5 million prize. The company specialises in organic and healthy nutrition for livestock. Securing second place and ₦3 million in funding, Vet Konect is a digital animal health company leveraging technology to enable access to animal care and social protection for livestock farmers and pet owners across Africa. Rounding out the top three with a ₦2 million prize, Bionet Innovations specialises in converting food waste and livestock droppings into high-protein animal nutrition.

The fifth and most recent season of the FMN Prize for Innovation (PFI) was exceedingly exciting both for the Brand and the Innovators. For the first time in 5 years emerged a Female winner of the FMN Prize Money from over 2700 entries garnered for the 5^th season of FMN PFI and was marked by a significant increase in the Prize Money and Financial support for SMEs. The season theme focused on “Innovative Practices in Cassava Production and Processing”. During the concluding event of the FMN PFI the Chairman of FMN, Mr. John G. Coumantaros, and the Season’s Special Guest of Honour, doubled the prize money for the top three finalists. From an initial Prize of ₦5,000,000 to ₦10,000,000, ₦3,000,000 to ₦6,000,000 and ₦2,000,000 to ₦4,000,000 for the Winner, first and second Runners-up respectively The Chairman also rewarded the last two finalists with the sum of ₦1,000,000 (One million Naira) each to further encourage industrial solutions within the cassava value chain.

Following highly competitive pitches from the top five finalists for the season, Kiyoko Foods Ltd, founded by Victoria Ogwanighie emerged as the winner of the fifth edition of the FMN Prize for Innovation (FMN PFI 5.0).  Kiyoko Foods Ltd innovatively turns cassava into nutrient-rich cheese balls called Sorghud Cheese Balls. Closely ranking first runner-up in the competition is PNeedles Limited owned by Joshua Attat.  PNeedle converts cassava peels – an abundant agricultural waste, into sustainable, plant-based leather. Bach and Moen Ltd by Valentine Okoli was the second runner-up, a position he clinched through his innovative project of cassava processing hubs that enable smallholder farmers to quickly transform fresh cassava to stored longer shelf life and into high-value food products. Among the high-ranking participants who qualified for the final stage alongside the winners were Amsadaf Ventures by Eng. Sadiq Muhammad, who proposed mechanised machine fabrications for smallholder farmers, and Farmavi Agro by Rashidat Ayoola Oluwafemi, who developed a liquid bio-fertiliser from toxic cassava effluent. These two finalists were also rewarded with ₦1 million (One Million Naira) each as part of the Chairman’s Special Guest reward package.

From data and information garnered through the mentorship sessions and other strategic support provided to the winners, FMN discovered that all beneficiaries’ businesses have experienced remarkable growth, with their operations expanding by over 50% since receiving the prize money and resources from FMN. This tangible success solidifies FMN’s vision for the Prize for Innovation – an Initiative used as foundational block for building sustainable food systems in Nigeria.

As this iconic Brand and Group – FMN forges ahead now and in the years ahead, the steadfast commitment to nurturing a culture of innovation that propels Nigeria towards food self-sufficiency remains a key imperative. Through continued investment in local content development for over six decades, the Company is unquestionably at the forefront of driving food self-sufficiency not just in Nigeria, but progressively within the continent. And the Brand’s strategic roadmap is the utilisation of innovation to entrench sustainable food systems.